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7.01 Key Terms


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Category: Term

 
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Created by: drakon0130
Popular Business sets

 

 


Producers:Definition: The people who make or provide goods and services10false
offeringsThe activity, set of institutions, and processes for creating, communicating, delivering, and exchanging _____ that have value for customers, clients, partners, and society at large21true
Product:Definition: Marketing element referring to what goods, services, or ideas a business will offer its customers30false
peopleIntangible activities that are performed by other _____ for money; productive acts that satisfy economic wants41true
Nondurable goods:Definition: Tangible items that are consumed within a short time50false
businessA philosophy of conducting business that is based on the belief that all _____ activities should be aimed toward satisfying customer wants and needs while achieving company goals61true
communicationThe form of promotion that determines client needs and wants and responds through planned, personalized _____ that influences purchase decisions and enhances future business opportunities81true
Advertising:Definition: Any paid form of nonpersonal presentation of ideas, goods, or services90false
Durable goods:Definition: Tangible items that should last a long time100false
Planning:Definition: The management function of deciding what will be done and how it will be accomplished110false
Sales promotion:Definition: Promotional activities other than advertising, personal selling, and publicity that stimulate customer purchases120false
Customers:Definition: The people who buy goods and services130false
Economy:Definition: The system in which people make and spend their incomes140true
Publicity:Definition: Any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it150false
Pricing:Definition: A marketing function that involves determining and adjusting prices to maximize return and meet customers’ perceptions of value160false
characteristicA fact about or _____ of a product171true
Goods:Definition: Tangible objects and materials180false
Standard of living:Definition: The general conditions in which people live; quality of life190false